Medicare Set Aside Administration
John Darer • February 10, 2019
Should You Self Administer MSA or Use Professional MSA Administration?
The Center for Medicare and Medicaid Services (CMS) published a helpful Workers Comp Medicare Set Aside Self Administration toolkit for those who are up to the task. The toolkit is 31 pages long and includes the above flow chart. Before taking the plunge into self administration carefully consider what you are getting into.
Why Do People Self Administer Their MSA?
- Small amount of MSA
- Perception that professional administration is costly
- Lack of awareness of their ongoing responsibilities
One of the more "tasty" requirements for self administration is that you must determine if the treatment is related to the workers compensation injury AND is a Medicare covered service and Medicare fee schedules!.However, stringent guidelines must be followed because beneficiaries are held to the same standards to which a professional administrator is held with regard to what may and may not be paid from the MSA. The claimant has the same reporting requirements as a professional administrator.
Why consider professional administration for your MSA?
The cost of professional administration varies. A number of professional administrators now charge cost effective one time fees.
CMS WCMSA Self Adminstration Toolkit
*Someone at CMS forgot the " I before e, except after c" rule in the above chart!
*Someone at CMS forgot the " I before e, except after c" rule in the above chart!
In the structured settlement annuity industry, dominated by many of the largest life insurers in the United States, Independent Life Insurance Company (ILIC) achieved significant milestones in 2024. Good news, positives and some concerns discussed in this lattest post.
Prudential and Pacific Life have once again been named among the world's most ethical companies. Prudential received the award for the 11th time., Pacific Life received the award for the 8th time. Prudential and Pacific Life are leading issuers of structured settlement annuities.
John Darer reviews structured settlement annuity market expansion featuring 3 new entrants Athene Life & Annuity, American National (ANICO) and Puritan Life as well as MetLife's development of a best in class
What is a Settlement Agreement and Release? What is the role of a Settlement Agreement and Release in establishing a structured settlement? What is a compromise?
John Darer reviews the primary structured settlement market, secindary market and tertiary structured settlement markets
A structured settlement annuity does not drive the tax consequences of structured settlement annuity payments. It is the type of damages the structured settlement annuity payments represent, as reflected in the relevant settlement documentation executed by the settling parties
Structured settlement beneficiary death claim. An executor cannot change the beneficiary of a structured settlement annuity. StructuredTypically, settlement agreements permit the Payee to name or change a beneficiary, provided such change is in writing and submitted to the Assigmment Company or annuity issuer in writing and in proper form.
Which life insurance companies write structured settlement annuities for personal injury and wrrongful death settlements in Bronx, Brooklyn, Staten Island, Queens, Manhattan, Long Island, Westchester, Erie, Rockland, Albany,Monroe in 2025 through licensed representatives?
Why Structured Settlements? Because Certain Sells® Structured settlements offer predictable income streams, which can be appealing to rein in uncertainty. John Darer reviews some other reasons that structured settlements are increasingly being used to settle cases:
Structured settlements have roots that trace back more than 100 years, from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as the core personal injury settlement planning tool it is today.
